Defence industry, metallurgy, finance: US extends sanctions against Russian economic sectors

On Friday (23 August), the US Department of the Treasury announced new sanctions against certain sectors of the Russian economy, particularly the defence industry and financial institutions. The latest US sanctions target over 60 Russian technology and defence companies that play an essential role in supporting and developing the Russian defence industry, the US Department of the Treasury noted.

Source: European Pravda, citing a press release from the US Treasury Department

Details: The latest US sanctions list includes organisations involved in the development and modernisation of weapons, automation and robotics, development and acquisition of dual-use electronics, digital surveillance, the Internet of Things, and artificial intelligence.

The US Treasury Department has also imposed sanctions on numerous companies in Russia's metals and mining sector, such as steel, iron, and coal mining companies and companies that service them.

In addition, the US blacklist includes new Russian financial companies that provide Moscow with access to the international financial system.

These sanctions include Russian developers of payment services software, such as Atol and the Financial Technology Centre group, and Diasoft, a major Russian provider of IT solutions for the financial sector.

The new US sanctions list includes over 400 individuals and entities, with over 100 linked to Russia's sanctions evasion networks operating across 16 jurisdictions.

Background: The last major sanctions package against Russia, announced by the US Treasury in June, targeted over 100 Russian defence companies and more than 90 foreign individuals and entities that aided Moscow in evading sanctions.

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